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mars1129 [50]
3 years ago
5

Pina Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Pina reacquired 104 shares at $87 per sh

are. On September 1, Pina reissued 63 shares at $90 per share. On November 1, Pina reissued 41 shares at $83 per share.Prepare Pina’s journal entries to record these transactions using the cost method
Business
1 answer:
umka2103 [35]3 years ago
8 0

Answer:

Please see explanation

Explanation:

The following journal entries shall be recorded by the Pina Inc in its accounts for the transactions mentioned in the question:

July 1, 2020                                     Debit                  Credit

Treasury shares                               $9,048

(104*87)

Bank                                                                              $9,048

(Reacquiring of 104 shares at $87 per share)

September 1, 2020                                     Debit                  Credit

Bank                                                            $5,670

(63*90)

Treasury shares                                                                       $5,481

(63*87)      

Paid in capital                                                                           $189                

(5,670-3,567                                                                            

(Reissuing of 63 shares at $90 per share)

November 1, 2020                                     Debit                  Credit

Bank                                                            $3,403

(41*83)

Paid in capital                                             $164

(3,567-3,403)

Treasury shares                                                                       $3,567

(41*87)      

(Reissuing of 41 shares at $83 per share)

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The correct answer to the given question is that the trade deficit would increase since with the appreciating pound means <em>more goods will be imported</em> from New Zealand.

Based on the given question, we are asked to show the effects of the trade deficit between New Zealand and UK based on the appreciation of the pound sterling relative to the New Zealand dollar.

With this in mind, we are aware that when there is a strong domestic currency, then it would encourage more imports and hamper exports, therefore, the trade deficit will increase, since an appreciating pound means more goods will be imported from New Zealand.

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4 0
2 years ago
How much would you have to deposit today if you wanted to have $54,000 in five years? Annual interest rate is 8%. (PV of $1. FV
mestny [16]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

A) How much would you have to deposit today if you wanted to have $54,000 in five years? The annual interest rate is 8%.

We need to use the following formula:

PV= FV/(1+i)^n

PV= 54,000/(1.08^5)= $36,751.49

B) Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 7% on your investments, how much would you have to deposit today to have $14,500 when you graduate?

PV= 14,500/1.07^2= $12,664.86

C) Calculate the future value of an investment of $643 for eleven years earning an interest of 8%.

FV= PV*(1+i)^n

FV= 643*1.08^11= $1,499.24

D) Would you rather have $643 now or $1,000 eleven years from now?

It depends on the interest rate. We will assume 8%.

PV= 1000/1.08^11= 428.88

It is better to have $643 today.

5 0
3 years ago
EA12.
BaLLatris [955]

Answer:

$38,400

Explanation:

<em>1. Cash Purchases:</em>

The total purchases in the month of March is of $35,000.

It is given that 70% of Purchases are for cash.

Hence, 70% of $35,000 would be;

$39,000 x 0.70

$27,300

<em>2. Credit Purchases: </em>

Remaining Balance of Purchases from the month of February:

For the month of February Cash Purchases can be calculated as follows;

$37,000 x 0.70

$25,900

Remaining Balance to be paid in March for the month of February can be calculated as follows;

$37,000 - $25,900

$11,100

<em>3. CASH PAYMENT for PURCHASES in MARCH:</em>

Cash Purchases = $27,300

Credit Purchases = $11,100

Hence;

<em>Cash Payment for purchases in March = Cash Purchases + Credit Purchases </em>

Cash Payment for purchases in March = $27,300 + $11,100

Cash Payment for purchases in March = $38,400

7 0
3 years ago
Bob went out with his friends to celebrate his birthday. They went to a bar where they drank copious quantities of alcohol. In t
Nimfa-mama [501]
I think the answer is c
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AutomatedFry Inc. is the leading manufacturer of ventless deep fryers. It has developed a new high-capacity fryer. To identify t
Tems11 [23]

Answer:

Lead generation.

Explanation:

Selling process can be defined as the steps which must be taken by a sales representative when selling a particular product. The selling process begins with identification of potential customers that are willing to purchase the product.

Lead generation is the process of getting customers to buy a product, It involves creating an awareness of the product. This is the initial stage of a selling process.

Lead generation begins with identifying the group of customers to sell to, marketing your products through different mediums, maintaining constant communication with the customers.

4 0
3 years ago
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